MT Catlin with 40% reserve increase plus better recoveries and Posco cash alone almost justify the current share price. On top of that they have far larger Canadian (with plans for downstream processing) and Argentinian prospects firming up just as supply will tighten sending Li prices soaring.
I’m not into conspiracy theories but there are huge companies needing massive qty’s of battery material as demand expontially surges ahead of likely supply. The likes of Posco will be laying back with just beady eyes and snout above water who will want to supply them and will snap up the likes of Galaxy with the table manners of a feeding crocodile. They already have a taste of the chunk they just bit out of the northern tenements, they will soon have the future output locked up in forward supply agreements....
GXY Price at posting:
$2.11 Sentiment: Buy Disclosure: Held